Operation Security Sample Clauses
The Operation Security clause establishes requirements and protocols to protect sensitive information and ensure the secure operation of a business or project. It typically outlines measures such as access controls, data encryption, and procedures for handling confidential materials, applying to both physical and digital assets. By setting these standards, the clause helps prevent unauthorized access, data breaches, and other security incidents, thereby safeguarding the integrity and confidentiality of operations.
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Operation Security. In order to supervise Party B’s operation activities and maintain uniform external image of the Commercial Square, where Party B breaches any provision of the Contract, Party A has the right to deduct the penalty, compensation and any other sum payable by Party B from the operation security, and Party B shall make up for the deficiency of the operation security within three days. Party A shall return the balance of operation security to Party B (without interest) within 90 days upon termination of the Contract.
Operation Security. 9.2.1 The Private Partner shall submit to the Public Partner, no later than on the CPs Completion Date, an unconditional and irrevocable on-demand bank guarantee, issued by a Reliable Bank for the amount of 21% of the Demand Guarantee, substantially in the form of the guarantee letter set out in ANNEX 5 (Requirements for Securities) and together with the relevant agreement on the Operation Security, to secure the due performance of the Private Partner’s obligations under this Agreement during the Project Period ("Operation Security"). If the bank issuing the Operation Security at any time fails to meet the requirements to Reliable Banks set out in ANNEX 6 (Requirements to Reliable BanksRequirements to Reliable Banks), the Private Partner shall, as soon as possible, but no later than ten (10) Business Days, obtain a new Operation Security for the same amount remaining at the time of such occurrence, from a bank complying with the requirements to Reliable Banks.
9.2.2 If the Private Partner failed to provide the Public Partner with the Operation Security as of the CPs Completion Date, the Public Partner shall be entitled to draw on the Tender Security.
9.2.3 The Operation Security shall remain valid from the date occurring no later than its issuance date until the date of submission of the Handback Security to the Public Partner according to Clause 9.3. The Public Partner shall return the bank guarantee letter on provision of the Operation Security to the Private Partner immediately after receipt of the Handback Security and shall submit the written notice of releasing the guarantee to the bank that issued the Operation Security.
9.2.4 If the Operation Security is scheduled to expire until the expiry of the period indicated in Clause 9.2.3, the Private Partner shall no later than twenty two (22) Business Days before the relevant expiration date of the Operation Security extend the validity period of such Operation Security or replace it.
9.2.5 If the Private Partner fails to extend the validity period of the Operation Security or replace it (as set out in Clause 9.2.4), the Public Partner shall be entitled to draw on the entire amount of the Operation Security.
9.2.6 In such case, all claims of the Public Partner which:
9.2.6.1 occurred prior to expiry of the validity period of the Operation Security set out in Clause 9.2.3; and
9.2.6.2 can be satisfied by withdrawing the Operation Security in accordance with this Agreement; and
9.2.6.3 do not in aggregate e...
Operation Security. “THE CONCESSIONAIRE” shall be responsible for providing the Service according to the quality and security standards established by “THE MINISTRY”, complying with conditions 4.2., 5.1., 7.4., 7.5., 7.8. and 11.1 hereof, as well as those determined internationally.
Operation Security. The Operator must: • ensure that any changes to IT systems that are performing work in respect of the [COMPANY NAME] information do not have any negative security implications. • follow documented change management practices and procedures.